The NBC Twiga bond was concluded on December 7 after a subscription of 130 percent during the one month primary trading.
The bank is targeting to raise Sh300 billion in the next five years to boost its financing of businesses and other economic activities.
In the first tranche of the bond which was launched on November 7, 2022, the bank targeted to raise Sh30 billion, although it managed to mobilise Sh38.9 billion.
The net proceeds will lend to retail, small and medium-sized businesses, agricultural value chain businesses whose products and services directly impact women and youth, and local and multinational corporations, the bank said.
Gracing the listing event at the DSE offices, the commissioner responsible for sovereign debt management at the Ministry of Finance and Planning, Mr Japhet Justine, who represented the Permanent Secretary Ministry for Finance and Planning, applauded NBC for the move as it will open up the stock market and empower the business community.
“The government applauds the innovation of bringing Twiga Bond to the market to raise funds to support the SME and the agricultural value chain. Apart from supporting the financial inclusion drive, we are happy to learn that the trickle-down effects will reach further down the supply chain by financing the SMEs, MSMEs, and the agriculture value chain at large. Let me assure you of maximum government support,” he said.
On his part, NBC managing director Theobald Sabi, who was represented by the bank’s director of treasury, Mr Peter Nalitolera, said; “The oversubscription shows the trust that the market has in the NBC brand, and we are equally grateful for their trust and support,” he said.
He explained that listing Twiga Bond on the stock market will open more doors for further trading of the bonds.
“Now investors who bought the bonds during the primary market can easily trade, while those who did not manage prior can now buy via the stock market brokers,” he added.
Investors in the NBC Twiga Bond would earn an interest rate of 10 percent per annum, payable quarterly throughout the five years investment tenure.
Giving her remarks during the occasion, the DSE chief executive officer, Ms Mary Mniwasa congratulated NBC for the important step while noting that the bank’s participation in the market makes DSE close this year with the listing of two corporate bonds.
“The two bonds listed within this year make the number of corporate bonds that have been listed on DSE reach five with a total value of Sh186.67 billion. The figure may seem small, but it reflects the great efforts that are being made,’’ she said.
Capital Markets and Securities Authority (CMSA) chief executive officer, Mr Nicodemus Mkama, congratulated the government for creating an enabling environment that attracted more investors to the bond.
“The achievement has largely been backed by the enabling environment of the government, especially its move to remove the withholding tax on corporate bonds, a move that has attracted more investors to the kind of bond,” he said.
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Dar es Salaam — Tanzania’s President Samia Suluhu Hassan has declared an outbreak of Marburg virus, confirming a single case in the northwestern region of Kagera after a meeting with WHO director-general Tedros Adhanom Ghebreyesus.
The confirmation follows days of speculation about a possible outbreak in the region, after the WHO reported a number of deaths suspected to be linked to the highly infectious disease.
While Tanzania’s Ministry of Health declared last week that all suspected cases had tested negative for Marburg, the WHO called for additional testing at international reference laboratories.
“We never know when an outbreak might occur in a neighbouring nation. So we ensure infection prevention control assessments at every point of care as routine as a morning greeting at our workplaces.”Amelia Clemence, public health researcher
Subsequent laboratory tests conducted at Kagera’s Kabaile Mobile Laboratory and confirmed in Dar es Salaam identified one positive case, while 25 other suspected cases tested negative, the president told a press conference in Dodoma, in the east of the country today (Monday).
“The epicentre has now shifted to Biharamulo district of Kagera,” she told the press conference, distinguishing this outbreak from the previous one centred in Bukoba district.
Tedros said the WHO would release US$3 million from its emergencies contingency fund to support efforts to contain the outbreak.
Health authorities stepped up surveillance and deployed emergency response teams after the WHO raised the alarm about nine suspected cases in the region, including eight deaths.
The suspected cases displayed symptoms consistent with Marburg infection, including headache, high fever, diarrhoea, and haemorrhagic complications, according to the WHO’s alert to member countries on 14 January. The organisation noted a case fatality rate of 89 per cent among the suspected cases.
“We appreciate the swift attention accorded by the WHO,” Hassan said.
She said her administration immediately investigated the WHO’s alert.
“The government took several measures, including the investigation of suspected individuals and the deployment of emergency response teams,” she added.
Cross-border transmission
The emergence of this case in a region that experienced Tanzania’s first-ever Marburg outbreak in March 2023 has raised concerns about cross-border transmission, particularly following Rwanda’s recent outbreak that infected 66 people and killed 15 before being declared over in December 2024.
The situation is particularly critical given Kagera’s position as a transport hub connecting four East African nations.
Amelia Clemence, a public health researcher working in the region, says constant vigilance is required.
“We never know when an outbreak might occur in a neighbouring nation. So we ensure infection prevention control assessments at every point of care as routine as a morning greeting at our workplaces.”
The Kagera region’s ecosystem, home to fruit bats that serve as natural reservoirs for the Marburg virus, adds another layer of complexity to disease surveillance efforts.
The virus, closely related to Ebola, spreads through contact with bodily fluids and can cause severe haemorrhagic fever.
Transparency urged
Elizabeth Sanga, shadow minister of health for Tanzania’s ACT Wazalendo opposition party, says greater transparency would help guide public health measures.
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“This could have helped to guide those who are traveling to the affected region to be more vigilant and prevent the risk of further spread,” she said.
WHO regional director for Africa Matshidiso Moeti says early notification of investigation outcomes is important.
“We stand ready to support the government in its efforts to investigate and ensure that measures are in place for an effective and rapid response,” she said, noting that existing national capacities built from previous health emergencies could be quickly mobilised.
The situation coincides with leadership changes in Tanzania’s Ministry of Health, with both the chief medical officer and permanent secretary being replaced.
This piece was produced by SciDev.Net’s Sub-Saharan Africa English desk.
Source: allafrica.com
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